LGT Capital Partners LTD. Grows Position in Brookfield Asset Management Ltd. (NYSE:BAM)

LGT Capital Partners LTD. increased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 11.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 534,000 shares of the financial services provider’s stock after acquiring an additional 55,000 shares during the quarter. LGT Capital Partners LTD. owned approximately 0.12% of Brookfield Asset Management worth $25,273,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its position in shares of Brookfield Asset Management by 8.5% during the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after buying an additional 1,066,015 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Brookfield Asset Management by 19.5% during the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Brookfield Asset Management by 1.8% during the first quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after buying an additional 186,765 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after buying an additional 24,409 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Asset Management by 68.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after buying an additional 2,788,611 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on BAM shares. Royal Bank of Canada increased their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group upped their price objective on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average price target of $52.54.

Brookfield Asset Management Trading Down 0.5 %

Shares of NYSE:BAM opened at $55.47 on Tuesday. Brookfield Asset Management Ltd. has a twelve month low of $33.06 and a twelve month high of $58.53. The company’s 50 day moving average is $50.24 and its 200 day moving average is $43.55. The company has a market cap of $24.57 billion, a PE ratio of 49.09, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $0.35 EPS. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.74%. Brookfield Asset Management’s payout ratio is 134.51%.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.